Military Veterans Receive Entrepreneurial Boost

Military veterans with entrepreneurial dreams will have the chance to win start-up money to open their own businesses through Signal 88 Security’s new contest, Operation American Dream: From Battlefield to Boss.

According to a May 2011 study from the Small Business Association Office of Advocacy, veterans are at least 45 percent more likely to take the plunge into entrepreneurship than people with no active-duty military experience.

Through Operation American Dream, Signal 88 Security is providing veterans with the opportunity for success. Here’s how the contest works: From now through May 2013, veterans can submit a 500-word essay on why they want to open their own business. Submissions will be accepted via http://www.signal88.com/OperationAmericanDream.

At the end of each month, representatives from Signal 88 Security will select three monthly finalists. The public will vote among those finalists for one monthly winner, who will receive a $500 semi-finalist prize and become eligible for the Grand Prize: $5,000 in start-up money to start their business. The prize money doubles to $10,000 if the winning veteran chooses to open a Signal 88 Security franchise.

The first deadline for submitting an essay and video to be considered among the first round of monthly winners is Jan. 15. Subsequent deadlines are on the 15th of each month, with the final deadline on May 15.

“Signal 88 Security is a top employer of military veterans,” said Reed Nyffeler, CEO and co-founder of Signal 88 Security. “We were named on the G.I. Jobs list in 2012 among the top 10 percent of the nation’s franchises that are doing the most to recruit military veterans.”

In 2007 data from the U.S. Census Bureau – the most recent statistics available on the subject – veterans owned 2.4 million businesses, or 9 percent of all businesses nationwide, generating $1.2 trillion in receipts and employing nearly 5.8 million people.

“Veterans possess many of the traits needed in entrepreneurism,” said Nyffeler. “Their leadership, teamwork and problem-solving skills are second-to-none, in my experience.”